If you've heard anything about Drupal 8, I'm sure you know that building multilngual sites will be so (SO!) much easier. You won't need 20+ community modules like in Drupal 7 to make everything translatable. You will just need a small number of core* modules to do most (maybe all) of what you need.
Installing Drupal 8 in different languages
Adding and configuring languages
Translating node content
Translating other entities like taxonomy terms, menus, and blocks
Overview of what's left in the issue queue and how you can help
* We are still hoping to get the Configuration Translation module into core! Help out with this issue if you can :)
D8MI Tidbits: To learn more about the wonderful work of the D8MI project, check out Gábor Hojtsy's blog series: Drupal 8 multilingual tidbits
Help Drupal 8: To make multilingual Drupal 8 site building much better, please get involved with the Drupal 8 Multilingual Initiative! You can also sprint with us before, during, and after the main BADCamp session days. And, of course, don't miss Gábor's Multilingual Drupal 8 - plans and reality session from DrupalCon Portland!
Target Audience: This session is targeted at new Drupal developers and site builders as well as more experienced Drupalers who haven't built multilingual sites in Drupal. If you are an advanced Drupaler or have built multilingual Drupal sites, you should check out the other great sessions during this time slot :)
Drupal 7 Session: If you are interested in a Drupal 7 multilingual session, check out: Multilingual module madness! Which i18n modules do you really need?